Marcus Giannini's questions to Golden Minerals (AUMN) leadership • Q3 2022
Question
Marcus Giannini of HC Wainwright asked for details on the ore sorting technology being tested for Velardeña, including its success and any comparable mine applications. He also questioned the impact of inflation on drilling costs per meter and the outlook for these costs next year.
Answer
COO John Galassini detailed the sensor-based ore sorting technology from Metso Outotec, noting positive initial characterization tests with bulk sample testing to follow. President & CEO Warren Rehn addressed drilling costs, stating they have remained steady in Mexico due to a good contractor but have seen a 10-20% increase in Argentina in USD terms, mitigated by the strong dollar against high local inflation.